Latest Indian Mutual Fund News | 22-Oct-2013

1.Axis Mutual Fund Launches 552 Days FTP Series 42. NFO period is from 18 October to 24

October 2013

Axis Mutual Fund has launched a new plan named as Axis Fixed Term Plan – Series 42 (552 Days), a close ended debt scheme. The duration of the scheme is 546 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 18 October to 24 October 2013.
The plan of the scheme will endeavour to generate returns through a portfolio of debt & money market instruments that are maturing on or before the maturity of the plan. The scheme offers two options viz. growth and dividend option. Dividend option offers payout facility.
The scheme will allocate 70%-100% of assets in debt instruments including securitized debt with low to medium risk and will invest upto 30% of assets in money market instruments with low risk profile. Investment in securitized debt would be upto 50% of the net assets of the scheme. The scheme shall not invest in foreign securitized debt. Investment in derivatives shall be up to 50% of the net assets of the scheme. 70% to 75% of net assets would be invested in AAA rated NCDs/Bonds. The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.

News Source – NAV INDIA.

DIVIDEND

2.Tata Mutual Fund: Dividend Declaration

Tata Mutual Fund has announced dividend at Rs 0.32 per unit inTata Equity PE Dividend Trigger A Plan A-D and Tata Equity PE Dividend Trigger A Direct-D. The record date has been fixed as October 24, 2013.
The fund house also declared dividend in Tata Fixed Income Portfolio Scheme C2 Plan A-DH, Tata Fixed Income Portfolio Scheme C2 Reg-DH and Tata Fixed Income Portfolio Scheme C2 Direct-DH. The quantum of dividend will be the entire distributable surplus as on the record date. The record date has been fixed as October 24, 2013.

News Source – VALUE RESEARCH ONLINE.

3.Edelweiss Absolute Return Fund declares dividend

Edelweiss Mutual Fund has announced dividend under the dividend option of Edelweiss Absolute Return. The quantum of dividend shall be Rs 0.22 per unit. The record date has been fixed as October 25, 2013.

Canara Robeco (MF) has declared dividend under the Canara Robeco Equity Diversified-Regular Plan- Dividend Option. The record date for dividend is October 25, 2013. The amount of dividend will be Rs 2.10 per unit on the face value of Rs 10 per unit. The investment objective of the scheme is to generate capital appreciation by investing in equity and equity related securities .